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Dalby Company

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Dalby Company has accumulated the following budget data for the year 2014.
1. Sales: 30,000 units, unit selling price $85.
2. Cost of one unit of finished goods: direct materials 2 pounds at $5 per pound, direct
labor 3 hours at $15 per hour, and manufacturing overhead $5 per direct labor hour.
3. Inventories (raw materials only): beginning, 10,000 pounds; ending, 15,000 pounds.
4. Selling and administrative expenses: $200,000.
5. Income taxes: 30% of income before income taxes.

(a) Prepare a schedule showing the computation of cost of goods sold for 2014.
(b) Prepare a budgeted income statement for 2014.

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